A company reported the following on its December 31,2024 , balance sheet: Equipment (at cost) $890,000 A disclosure note indicates that the company uses straight-line depreciation over five years and estimates salvage value as 10% of cost. The equipment averages 3.5 years on December 31,2024 . What is the book value of the equipment on December 31,2024 ? Multiple Choice $560,700 $623,000 $267,000 $329,300